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Suriname is experiencing renewed optimism for its oil industry with the approval of the GranMorgu project and significant investment from international energy companies. The country hopes to leverage its offshore oil discoveries to address economic challenges and reduce poverty, drawing inspiration from neighboring Guyana's successful oil boom. Several offshore blocks, including Block 58 and Block... Continue Reading →
(Reuters) Chinese offshore oil and gas major CNOOC first-quarter net profit fell 7.9%, weighed down by weaker oil prices, though higher output helped stem the decline. Net income for January-March was 36.56 billion yuan ($5.03 billion), versus 39.7 billion yuan in the same period last year, according to a company filing with the Hong Kong... Continue Reading →
(OE) Noble Corporation has reported that its contract drilling services revenue for the first quarter of 2025 totaled $832 million compared to $882 million in the fourth quarter of 2024, with the sequential decrease driven primarily by the benefit received in the fourth quarter of 2024 from the Noble Deliverer's early termination fee. Contract drilling... Continue Reading →
(oilnow.gy) ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement, according to the Ministry of Natural Resources. The Stabroek Block, spanning 26,800 square kilometers, is the centerpiece of Guyana’s deepwater oil boom. Exxon and its partners Hess and CNOOC have made over 30 discoveries on... Continue Reading →
(OE) MODEC has executed a contract with Sumitomo Heavy Industries for the delivery of Gato do Mato floating production, storage and offloading (FPSO) unit for Shell, which will be deployed offshore Brazil. MODEC and Sumitomo Heavy Industries signed a contract for the forward block of MODEC’s new generation hull for the Gato do Mato FPSO,... Continue Reading →
Oil States announced the signing of a new contract with Petrobras to provide inspection and maintenance services for cranes and cargo handling equipment on offshore platforms. The agreement will last three years and will cover units located in the Tupi, Berbigão and Atapu fields in the Santos Basin. According to the company, the services will... Continue Reading →
(offshore-energy.biz) China-based provider of clean energy services Wison New Energies (WNE) has won a detailed feasibility study (DFS) for a newbuild floating liquefied natural gas (FLNG) facility set to work at a block offshore Suriname operated by Malaysia’s energy giant Petronas. The FLNG unit is slated to work at Block 52, located north of the Surinamese... Continue Reading →
(Reuters) - Oil output in Guyana fell about 3% to 627,000 barrels per day (bpd) in March from the previous month, but the 631,000 bpd produced in the first quarter was 3% higher year-on-year, data from the country's energy ministry showed on Thursday. Guyana last year became Latin America's fifth largest oil exporter after Brazil, Mexico, Venezuela... Continue Reading →
PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following the best corporate governance practices, informs its shareholders and the market in general that, today, the Brazilian Institute of the Environment and Natural Renewable Resources (“Ibama”) has granted approval for the workover of wells in the Tubarão Martelo field including wells TBMT-10H and TBMT-4H, which had been... Continue Reading →
(Reuters) Oil giant Shell will pull out of three offshore gas projects in Colombia's Caribbean, it owns together with Colombia's state-run oil company Ecopetrol, the groups said on Thursday. Shell had acquired a 50% operating stake in Col 5, Purple Angel and Fuerte Sur deepwater blocs in 2020. "They no longer fit our strategic ambitions.... Continue Reading →
Brazil Energy Insight 